americans are spending money as fast as they earn it. Personal income increased a seasonally adjusted 0.4 percent in March, the Commerce Department reported. And consumers boosted their spending another 0.4 percent, the eighth month of increases. Overall, spending has outpaced income: The nation's personal savings rate is at a record low - minus 0.6 percent.
Separately, the Dow Jones Industrial Average pushed above 11000 points just 24 trading days after breaking 10000. AT&T moved closer to buying MediaOne for $54 billion, a deal that would make the telecommuni-cations giant the biggest cable TV provider in the US.